In the deal of the day, BB&T and Suntrust banks have successfully merged to create their hybrid baby, Truist.
Truist this merger. The goal of this merger is to give more to customers while keeping the face-to-face feel of a small bank.
- The stock will be available on the NYSE with the ticker TFC.
Big bank, big tech. The bank duo wants to focus more on their vision of being a technology financial institution.
How Does it Affect My Wallet?
This deal is HUGE. This BB&T and Suntrust collaboration is worth $66 billion and will become the 6th largest bank in the US.
- Together, they’ll have $441 billion in assets and $324 billion in deposits.
- Truist will serve a combined 10 million households.
Don’t want to miss our financial news you can finally use? Subscribe to our newsletter – it’s free!